2346 GMT - There are early signs of a turnaround at retailer Baby Bunting, says Ord Minnett. Baby Bunting today reported a 1H gross profit margin of 39.8%, up 260 basis points on a year earlier. That was better than the 39.0% anticipated by Ord Minnett. Sales trends are improving, with Baby Bunting reporting 2Q same-store sales growth of 4.5%. "Pleasingly, the company has stated the positive momentum has continued into the first few weeks of 2H," says analyst James Casey. Ord Minnett retains an accumulate call on Baby Bunting, which is up 10% at A$1.745 today. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 14, 2025 18:46 ET (23:46 GMT)
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